Sideways trading if FOMC
announcements led no big
Global markets moves
Nifty-Intra Day Chart Analysis &
Market Outlook(22-09-2022)
Nifty-Intra Day Chart (21-Sep-2022):-
Technical Patterns formation in today intraday charts
1- Firstly up moves after weaker opening
1- Selling between 17798-17838
3- Sharp fall in Mid-session
4- Supports between 17664-17701
5- Up moves with downward corrections
6- Down moves in Bullish Falling Channel
7- Whole day actual trading between 17664-17838
Conclusions from intra day chart analysis
Although firstly up moves after weaker opening but higher levels selling developed therefore sharp fall was seen in Mid-session. As lower levels supports and after that intraday consolidation also through Up moves with downward corrections and Down moves in Bullish Falling Channel also therefore whole day today trading will be understood with Mixed Patterns formation between 17664-17838.
As higher levels selling and lower levels consolidation today therefore expected that Nifty will trade sideways and prepare for next decisive moves within and near about today trading range and finally sustaining beyond today trading range will confirm it hence it should be firstly watched tomorrow for confirmations.
Intraday technical positions have be posted above but FOMC announcements tonight will also impact all the Global markets tomorrow therefore if due to it any one sided big move develops in Global markets then next those supports and resistances should also be watched which have already been posted in previous 3 sessions Outlooks.